Log in
Login
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Mercado Continuo Espanol  >  Gamesa Corporacion Tecnologica SA    GAM   ES0143416115

End-of-day quote. End-of-day quote  - 05/05
17.335 EUR   +3.28%
05/05 GAMESA CORPORAC : The Company communicates the resolution of the Boa..
05/05 GAMESA CORPORAC : The Company submits the 2016 first quarter results..
05/05 GAMESA CORPORAC : The Company submits the 2016 first quarter activit..
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Gamesa Corporacion Tecnologica SA : Gamesa provides a preview of its 2012 results*, in line with its 2013-2015 Business Plan

share with twitter share with LinkedIn share with facebook
share via e-mail
0
02/12/2013 | 07:32pm CEST
Gamesa provides a preview of its 2012 results*, in line with its 2013-2015 Business Plan
  • The company shores up its balance sheet in the net amount of 584 million euros

Gamesa this afternoon released a preview of its 2012 results, in line with the guidance the company provided the market on 25 October, illustrating Gamesa's progress on implementing its 2013-2015 Business Plan.

Recurring activity continue to underscore the soundness of Gamesa's business, with positive EBIT of €7M, meeting the targets previously issued to the market. In addition, sales at the end of 2012 totalled 2,119 MW, surpassing the company's target of 2,000 MW.

Gamesa also announced that it has strengthened its balance sheet in the net amount of 584 million euros. The purpose of this restructuring - previously announced to the market as a cornerstone of the new Business Plan - is to adjust the value of the company's assets, with a focus on two key areas. First, it aims to bring the balance sheet into line with the Business Plan (to include facility closures, changes in product strategy and staff restructuring). Second, it tailors the corporation to current market conditions (including industry-wide changes in demand, regulation in key markets and the need for provisioning).

"This was a year for prudence and responsibility, for aligning the balance sheet with our new 2013-2015 Business Plan and with the industry's performance," said Gamesa Chairman and CEO Ignacio Martín. "This one-off event is the foundation for recovery in our operating income in 2013."

2013 and beyond

Gamesa on 25 October released its 2013-2015 Business Plan, which is designed to enable it to weather the industry downturn, adapt its corporate structure to the prevailing climate and emerge a stronger company as one of the global leaders in the wind energy industry. Furthermore, the Plan aims to restore and maintain profitability, strengthen the balance sheet (reduce debt), focus on key markets and growth businesses and offer competitive technological solutions (new 2.5 MW and 5.5 MW turbine systems).

Meanwhile, the outlook for 2013 is encouraging and serves as an endorsement of Gamesa's revamped commercial positioning. Specifically, Gamesa ended 2012 with a portfolio of definitive contracts totalling 1,657 MW, with 571 MW signed in the fourth quarter alone, and has already covered 50% of its budgeted sales volume for 2013.

These figures illustrate the wind power sector's solid future in the medium and long term, which is underpinned by the industry's efficiency -- cost of energy -- and its contribution to solving energy systems' structural problems: energy dependence, price volatility, inefficient use of resources and environmental impact.

*Provisional financial figures, subject to completion of an external audit

distributed by
share with twitter share with LinkedIn share with facebook
share via e-mail
0
React to this article
Latest news on GAMESA CORPORACION TECNOLO
05/05 GAMESA CORPORACION TECNOLOGICA : The Company communicates the resolution of the ..
05/05 GAMESA CORPORACION TECNOLOGICA : The Company submits the 2016 first quarter resu..
05/05 GAMESA CORPORACION TECNOLOGICA : The Company submits the 2016 first quarter acti..
05/05 GAMESA CORPORACION TECNOLOGICA : reports €72 million net profit on €1,064 millio..
05/04 GAMESA CORPORACION TECNOLOGICA : signs 198MW order and construction project deal..
05/04DJSiemens Posts Solid Profit Growth -- 2nd Update
05/04DJSiemens Posts Solid Profit Growth
04/29 THE COMPANY SUBMITS THE CONNECTION D : 00 (cet)
04/28 GAMESA CORPORACION TECNOLOGICA : to supply 65 G114-2.1 MW turbines in Brazil
04/28 GAMESA CORPORACION TECNOLOGICA : celebrates World Day of Excellence with its emp..
Advertisement
News chart
Full-screen chart
Income Statement Evolution
More Financials